Exclusive Buyer Representation / Workscope: Buyer hereby grants Camelot, Inc., Realtors GMAC (“Broker”) the sole and exclusive right during the duration of this agreement to assist Buyer in locating for purchase acceptable real estate (“Real Property”) as indicated by Buyer signing an offer to purchase that is accepted by a seller.
 
Duration of Agreement: This agreement shall commence on the date of submission and continue for 6 months.
 
Geographical Area of Agreement: This agreement shall cover all Real Property in Pinellas and Hillsborough counties.

Compensation of Broker: As compensation for Broker’s services, the Buyer agrees to pay the Broker as follows:

A. On Listed Property with Commission Splits: Commissions are generally paid by the seller. The Listing Agreement should specify who pays the Broker’s commission. Broker, when the listing company, will split commissions with the cooperative brokerage company, because it is Broker’s general policy to reciprocate compensation and cooperation with other brokers.
 
B. On Other Property: In the event that the owner of any Real Property with whom Buyer enters into an enforceable Purchase and Sale Agreement does not agree to pay Broker’s real estate commission, or if the listing broker does not split commissions, then Buyer shall pay Broker a commission of 3 % of the purchase price of each Real Property purchased by Buyer (e.g., A “For Sale By Owner” property may fall into this category.) Broker shall credit against said commission any commission payments received by Broker from the Real Property seller. Buyer shall pay Broker said commission at the time Buyer closes any purchase of Real Property.
 
C. Protection Period: In the event that during the period of 6 months following termination of this Agreement, Buyer purchases any Real Property shown or introduced to Buyer during the term of this Agreement, then Buyer shall pay Broker the commission as stated above in paragraph B.
 
Transaction Broker Notice
 
FLORIDA LAW REQUIRES THAT REAL ESTATE LICENSEES OPERATING AS TRANSACTION BROKERS DISCLOSE TO BUYERS AND SELLERS THEIR ROLE AND DUTIES IN PROVIDING A LIMITED FORM OF REPRESENTATION.   As a transaction broker GMAC Camelot Realtors and its Associates, provides to you a limited form of representation that includes the following duties:
 
1. Dealing honestly and fairly;
 
2. Accounting for all funds;
 
3. Using skill, care, and diligence in the transaction;
 
4. Disclosing all known facts that materially affect the value of real property and are not readily observable to the buyer;
 
5. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee otherwise in writing;
 
6. Limited confidentiality, unless waived in writing by a party, This limited confidentially will prevent disclosure that the seller will accept a price less than the asking or listed price, that the buyer will pay a price greater than the price submitted in a written offer, of the motivation of any party for selling or buying property, that a seller or buyer will agree to financing terms other than those offered, or of any other information requested by a party to remain confidential; and
 
7. Any additional duties that are entered into by this or by separate written agreement.
 
Limited representation means that a buyer or seller is not responsible for the acts of the licensee. Additionally, parties are giving up their rights to the undivided loyalty of the licensee. This aspect of limited representation allows a licensee to facilitate a real estate transaction by assisting both the buyer and the seller, but a licensee will not work to represent one party to the detriment of the other party.
 
Consent to Show Properties to Other Buyers: Other potential buyers may be interested in the same properties as Buyer. It is agreed that Appointed Agent may represent those buyers, whether such representation arises prior to, during, or after the end of this Agreement. In such a situation, Appointed Agent will not disclose to either buyer the terms of the other’s offer.
 
Costs of Services or Products obtained from Outside Services: The Buyer shall be responsible to pay immediately when due for all product or services from outside sources. (Examples: roof or mechanical inspections, pest inspections, surveys, title reports, etc.)
   
Early Termination: Buyer may terminate this Agreement at any time by written notice to Broker but will remain responsible for paying Broker's compensation if, from the early termination date to Termination Date plus Protection Period Buyer contracts to acquire any property which, prior to the early termination date, was found by Buyer or called to Buyer's attention by Broker or any other person.  Broker may terminate this Agreement at any time by written notice to Buyer, in which event Buyer will be released from  all further obligations under this Agreement.